The company reported a net reduction of 11 Pie Five restaurants for fiscal 2018. The impact of the 2020 COVID-19 pandemic has proven to be yet another devastating blow for the Rave Restaurant group. Winsight is a leading B2B information services company focused on the food and beverage industry, providing insight and market intelligence to business leaders in every channel consumers buy food and beverage – convenience stores, grocery retailing, restaurants and noncommercial foodservice – through media, events, data products, advisory services, and trade shows. Pizza Inn's then-CEO Charlie Morrison told QSR Magazine: "We lost our way as a company. Here's why Pie Five is struggling to stay in business. Pie Five Pizza is personal craft pizza with unlimited toppings for one price in only 5 minutes! Pizza in the morning. The Dallas-based fast-casual pizza chain, which two years ago had about 100 locations, is now down to 65 following a string of weak same-store sales. At the time, cheaper out-of-town real estate with purpose-built free parking, plus places to eat, offered an easy weekend day out. By February of 2019, Pie Five was down from around 100 locations to just 65. Delivery & Pickup Options - 51 reviews of Pie Five "The pizza is amazing. Options ranged from suggested favorites to build your own. According to Restaurant Engine, a whopping 70 percent of customers don't return because of failings like those at Pie Five locations. Well, that's sort of the idea behind the concept of fast-casual, dine-in pizza restaurants, anyway. Pie Five, formerly at 6809 Johnson Drive in the Cornerstone Commons, has closed its doors. The company currently operates over 40 Pie Five restaurants. Glad you are finally here Pie Five!!" Having leaders in place who know how to grow a … Pizza Inn. Get me to a pie five pizza . Fans certainly aren't willing to hold back if they feel they've been cheated out of their hard-earned money. Pie Five closes, employees notified morning of closure. From Atkins to Keto, this has become a serious money-making sector of the food industry (via The Rail). The Pie Five Pizza Co. in the College Park District has closed, according to a message sent to email subscribers Wednesday afternoon. It’s unclear if the closure is related to the metro-wide economic shutdowns caused by the coronavirus pandemic. Revenues fell 24% to $3.2 million, due largely to closed company-owned restaurants. Pie Five has also been recognized as a 2012 Hot Concepts winner by Nation's Restaurant News and one of "10 Hot New Restaurant Chains from Established Brands" by Forbes.com. With no set standards, this opens up a whole can of worms if an owner is inexperienced in the complex field of marketing. There is … Given the astonishing overhead needed for a restaurant to run properly, it's difficult to survive on take-out orders alone. The employees and the manager are really nice" Ultimately, that customer-restaurant relationship all comes down to trust. That’s according to an email sent out to customers. The Rave Restaurant group was already struggling before it came head-to-head with the 2020 global coronavirus pandemic. In June 2020, Rave Restaurant Group, the parent company of Pie Five, announced they were permanently closing 10 locations. Whatever you want, all one price plus it's ready in 5 minutes. Things began to explode market-wise for Pie Five by 2015, says Fast Casual, when the chain opened over 50 more locations as far-reaching as Florida and Maryland. Pie Five Pizza is a leader in the fast-casual pizza space offering made-to-order pizzas ready in under five minutes. "It was ceiling-to-floor toys. Cassandra Forest, a spokeswoman for Pie Five Pizza, confirmed the closure. It also operates seven Pizza Inn Express, or PIE, locations. Customers have frequently called out the shop for its stingy toppings, dry crust, and lack of cohesive management. Equipment and seating has been cleared out of the space. Claiming to get pizza served to customers in under five minutes (hence the name) from the time of ordering, Pie Five opened its first location in Fort Worth, Texas in 2011. The fallout was palpable as, according to Restaurant Business, the first quarter of 2020 saw the company's 18th consecutive quarter of a decline in sales. Growth was slow the first few years and expansion focused mainly on other markets in Texas. They successfully created an entirely new sector of the business and now operate over 2,600 locations globally. You can dedicate your life to mastering your craft and creating glorious pizza, but if people don't know about your pizza genius, it may all be for nothing. Delivery & Pickup Options - 122 reviews of Pie Five Pizza "Went to the special tasting tonight as they don't open till Monday (11am). While mega-chains, like Domino's and Little Caesars, have proved to practice tried and true methods, like the ease of sales due to technology, fast-casual pizza chains are still in their infantile stage and there's no telling if they'll see the same fruitful longevity as its big-time competitors. Pie Five has experienced its fair share of negative reviews that may have impacted business. Things haven't improved much for the company as of late, either. The company has tried to shift gears from being primarily a dine-in business to one that's focused on takeout, … These days, it's common for the would-be consumer to scroll through endless posts, reviews, and comments before landing on a final decision on where they're going to get their grub. When trust between a customer and restaurant is broken, it's hard and sometimes downright impossible for a business to gain it back. The Innsbrook Pie Five closed in June 2018 and the Willow Lawn one at the end of business Sunday, April 14. Some especially hard-hit restaurants were even forced to close. As Drew French of Your Pie told QSR, the hurdle came in getting the customer accustomed to such speedy service and the vast amount of customization available. Bafundo said that its all-day buffet, rolled out more than 14 months ago, “continues to drive transactions,” especially during the afternoon and late in the evening. Why would anyone even attempt to get their piece of the pie in such a fiercely competitive landscape? American Pie Series Retrospective. Glad you are finally here Pie Five!!" The company, known for their pan pizzas served buffet style, at one time operated over 500 storefronts throughout the United States and even internationally (via NBC DFW). After an extensive investigation, Pie Five came to the conclusion that a cybercriminal was able to gain access to their software and installed a capturing system that went undetected, according to a 2019 press release from the company. Rave Restaurant Group has currently appealed the delisting notice, leaving the future of their stock is still up in the air. Franchising stalled out, however, and the brand's image grew stale. The menu of Pie Five is also diverse in nature, letting customers choose what they want to have when they are at the restaurant. As the fast-casual concept has exploded in the last decade largely thanks to its leader Chipotle, so has the niche focus on pizza. It did not offer that service. That first quarter also saw the company close an additional 10 stores in the Pie Five brand. looking for the pie five nearest you? But steep declines in same-store sales the past three years have cut the brand’s unit count by a third and forced changes in the company’s business model. I really hate they are shutting down the location I work for. Other all you care to eat concepts, like Golden Corral and Shoney's, have faced steady declines in sales for decades (via Vox). We've seen Blaze Pizza, Pieology, MOD pizza, and of course, Pie Five Pizza spring up to take part in the fast-casual pizza realm. Sign up to receive texts from Restaurant Business on news and insights that matter to your brand. This isn't terribly shocking, as the pizza industry as a whole has had a rough go of things recently, according to QSR. Pie Five Pizza Co. has closed nine restaurants in Chicago and Minnesota amid a lawsuit from a franchisee who claims the company provided misleading information about … I started out as a crew member and worked my way up to assistant manager. Similarly, Pizza Inn also saw the unprecedented challenge of operating a buffet-style restaurant in a time of increasingly stringent safety and health protocols. Pie Five and its five-minute pizza option, founded in 2011, boomed above 100 stores before retracting. Meanwhile, fast-casual concepts have relied on the fact that their ingredients are reportedly handcrafted and of high quality. Researchers at A&M and Retail Economics suggest during the past five years, companies have had to spend 10.8% more on things such as business rates, increasing wages and rents. As per Restaurant Business, the Securities and Exchange Commission requires that a company must maintain the minimum of $1 per share. After closing nine franchised and nine corporate locations, Pie Five had 86 last March. There has been perhaps no bigger diet than the low-carb trend. Pie Five’s struggles continued in the quarter ended Dec. 23, as the fast-casual pizza chain closed eight more locations while same-store sales fell 3.6%, parent company Rave Restaurant Group said Wednesday. That first quarter also saw the company close an additional 10 stores in the Pie Five brand. It's of no surprise that pizza is a highly competitive market in the already cutthroat restaurant industry, where approximately 60 percent of restaurants fail in their first year (via CNBC). Already established pizza businesses, like Pizza Hut, Domino's, and even your local Mom and Pop shop, are already serving up your pie hot, fresh, and in a timely fashion. ... KC-area Pie Five … This location closed because of unforeseen circumstances. 3. The 73-unit Pie Five concept has introduced new options, such as a low-carb cauliflower crust, 14-inch shareable pizzas, calzones in one location, and … Now, the brand is hoping to try a few new tricks to build repeat business. Smashburger founders Tom Ryan and Rick Schaden launched Live Basil, a two-unit operation based in Denver; Dallas-based Pie Five originally started as an express spin-off of Pizza Inn. Quickly-made food in a casual setting didn't become a pizza thing until 2008, however, when Drew French opened the first fast-casual pizza concept, Your Pie (via QSR). One Pie Five location Lexington, Kentucky has a middling 3.5 stars out of a possible 5 on Yelp. That's thanks to one major and perhaps overlooked component. But he added that “we anticipate additional consolidation from first-generation restaurants,” though the company said it has “strong interest” in its more, delivery- and takeout-focused “Goldilocks” model, Subway franchisees want their royalty payments cut, Financial roundup: Acquisitions ahead for Fat Brands, better sales for STK, Kona Grill, US Foods, Starboard Value takes some equity out of its Papa John’s investment. Pie Five and its sister restaurant, Pizza Inn, were also not spared from the economic hardship. French was in college when he saw the potential to adapt the fast-casual concept to another food niche. OR. As restaurants begin to reemerge, one year since it all began, Restaurant Business takes stock of the massive changes the virus has brought. Pie Five Pizza, owned by Dallas-based Rave Restaurant Group, once boasted over 100 locations across the United States. Pie Five’s customizable pizzas allow each customer to select what’s right for them whether that’s vegan, gluten-free, low calorie or fully-loaded. A trip to Italy, where he undoubtedly consumed copious slices of pizza, sealed the deal. Therefore, companies spend millions each year carefully designing marketing strategies to capture the public interest. Pie Five Pizza/ Facebook. The most unique feature of Pie Five is that they make a pizza in less than five minutes of time. Cassandra Forest, a spokeswoman for Pie Five Pizza, confirmed the closure. Additionally, signage has been posted to the door of the 1008 E. Battlefield Road restaurant, referring customers to the chain’s nearest location at Branson Landing. This high-level system was able to capture sensitive payment information from customers who used their debit and credit cards for purchases at store locations. You pick the crust, and everything you want on it (or pick one of their popular pre-designed ones). The actress - who played Vicky Lathum in the 1999 original, its 2001 sequel and 2012's 'American Reunion' - has … Read on to find out everything we know about ‘American Pie 5’, and whether it will ever see the light of day. The Innsbrook Pie Five closed in June 2018 and the Willow Lawn one at the end of business Sunday, April 14. Pie Five sought out law enforcement and went on to improve their operating software systems, but the damage was done. Pizza chain Pie Five closed 10 units in the last quarter, Restaurant Business first reported, bringing its total US restaurant count to 43 locations. This isn't the first year Pie Five, which serves craft pies, calzones, and salads, has had to close locations due to poor performances. Sounds like a revolutionary business model, right? Maintaining customer loyalty is a crucial challenge for any restaurant. The express units are targeted at nontraditional locations such as airports and travel centers. Pie Five's Independence, MO location is also not immune to bad reviews. “We’ve shored up the balance sheet, improved our cash position, and are generating positive cash flows from operations,” he added. “At Pie Five, we’re addressing restaurant-level challenges and stabilizing the system for future growth,” Bob Bafundo, Rave’s president, said in a statement. That’s according to an email sent out to customers. Regularly the personal pizza is $6.99 which is still a good deal, but $5 Monday makes is amazing. We want fresh, quality ingredients, customized to our liking and served at record speed. Restaurants have been quick to adapt to these new demands of their customers and their waistlines. According to FSR, successful companies spend on average 11 percent of their revenue on marketing alone, further proving the theory that sometimes you really do need to spend money to make money. Pie Five Pizza is considered a pioneer of the first fast casual pizza category and has twice been named among Fast Casual's Top 15 "Movers & Shakers" (2013/2014). ... You can opt-out at any time. Pie Five Pizza is personal craft pizza with unlimited toppings for one price in only 5 minutes! This is where marketing comes into play in a big way. Be it diet trends or the growth of other food industries, the crust has gotten a bit stale. Many complain that the restaurant isn't living up to its promise of fast pizza, with many waiting over 10 minutes for their meal. Use My Current Location. While regulars are essential to a booming restaurant business, for the consumer, consistency is key. Bafundo said the company expects operators will adopt the new model, which will feature improved unit economics and could strengthen the brand going forward. Scott Crane, the company’s CEO, said that “efforts to consolidate operations, including closing underperforming restaurants and upgrading technologies, have made our performance less volatile and more predictable.”. When Tom Monaghan founded Domino's Pizza in the 1960s, he likely didn't know what he was setting in motion. Pizza in the evening. Pie Five jumped on board the low carb train with the debut of a cauliflower pizza crust that is lower in carbohydrates, sodium, and sugar in comparison to its carby predecessor. Equipment and seating has been cleared out of the space. ... “We would go through every store, line by line every week,” Waite said. That, along with the sheer amount of real estate needed for new locations, means there are currently just over 150 Pizza Inn locations left. Inside the collapse of Pie Face: The business didn’t make a profit for 10 years. ... please reach out to … ... By the way, if you’re interested in joining the revolution and opening a franchise of your own, check out the opportunity here. At least, it should be if they want to stay in business. Between 2017 and 2018, the chain closed 27 locations across the United States. However, is there even going to be one? 3,391 were here. This is the second time in just 6 months that the company has received such a delisting warning, making its struggles plain for all to see. Unfortunately, their email blasts are perceived simply as mass, self-serving advertisements that do little to draw in the customer through establishing a genuine connection. Once the go-to option for the average, hard-working family, the takeout industry is littered with options. My pizza was ready in less than five minutes as advertised. Pie Five and its sister restaurant, Pizza Inn, were also not spared from the economic hardship. The Small Business Administration expects the second round of Paycheck Protection Program funds to run out faster than the first round — so don't wait to apply. What started as a limited-time run quickly became a permanent menu item thanks to demand. While trendy, according to Fool, the fast-casual pizza concept may have been D.O.A. JOHNSON CITY, Tenn. (WJHL) – The Pie Five Pizza restaurant in Johnson City has permanently closed. From March to June 2020 alone, the National Restaurant Association has estimated that the restaurant industry lost a whopping $120 billion with millions of employees out of work. Do not sell my personal infoPrivacy PolicyContact UsRSS. In its report for the second quarter of fiscal year 2021 , the company said its comparable store retail sales had decreased 16 percent … Whatever you want, all one price plus it's ready in 5 minutes. On a two-year, stacked basis, the chain’s same-store sales fell 16.7% in the company’s fiscal second quarter. That's a lot of dough, both figuratively and literally. Before there was Pie Five, there was Pizza Inn; a small venture started by Texas brothers Joe and R. L. Spillman. Additionally, signage has been posted to the door of the 1008 E. Battlefield Road restaurant, referring customers to the chain’s nearest location at Branson Landing. Many saw the vast opportunity and quickly followed suit on grander scales. Budding businesses may be wary of spending their limited funds on marketing, even with potentially positive long-term results. Get today’s need-to-know restaurant industry intelligence. Inherently, the fast-casual concept should work perfectly with pizza. I will be back, I can't wait to go back. JD: Pie Five has the right leadership and the team Randy created played a big part in our decision to go with Pie Five. But as quickly and as brightly as their stars have shined, so, too, have they burned out. According to The Nest, when a company is delisted, that usually means major trouble is ahead and that the struggling business has little chance of rebounding. According to Forbes, traffic into Pie Five saw a resurgence as a direct relation to the new menu item, but it's likely not strong enough to pull the company out of its economic hardship. But he added that “we anticipate additional consolidation from first-generation restaurants,” though the company said it has “strong interest” in its more delivery- and takeout-focused “Goldilocks” model. These mishaps may prevent a future visit from the once loyal customer. Pie Five is a pizza version of Subway. (hey, who isn’t?) Today, according to Scrape Hero, there are only 34 Pie Five locations still in operation. Pie Five's sister company, Pizza Inn, has experienced serious issues with stale branding, according to the Dallas Business Journal. Delivery & Pickup Options - 71 reviews of Pie Five Pizza Co "Two words: barbecue sauce. Opening a few stores and closing a lot is not a recipe for success.". Or eat pizza, it seems. It's not always easy, though. My favorite is the Alfredo pizza and the high five. The parent company has already closed 16 Pie Five and four Pizza Inn stores this year. While everything should be taken with a grain of salt, most restaurants still operate under the assumption that the customer is always right. University campus, its popularity quickly spread successfully created an entirely new sector of business... The shop for its stingy toppings, dry crust, and everything you want on it ( or one... Shined, so has the niche focus on pizza while trendy, according an., after closing nine franchised and nine corporate locations, Pie Five!! Inn 's then-CEO Charlie Morrison told QSR Magazine: `` We lost our way a! And 48 internationally Cards Franchising … Johnson CITY has permanently closed in Drive... To receive texts from restaurant business, for the Pie Five locations announced they permanently... Ingredients are reportedly handcrafted and of high quality 2018 and the Willow Lawn one the... Moments restaurateurs miss at their own peril Topeka, Kansas, WIBW reported another such card! Drive in the Cornerstone Commons, has closed, according to the metro-wide economic shutdowns caused by the,... Fresh, quality ingredients, customized to our liking and served at record.. Few new tricks to build your own card security was compromised Rave, opened in 1993 and has shown signs... Those at Pie Five, MO location is also prompt in nature pizza Inn saw... Demand the moon and stars from their pizza place Five pizza is a challenge... Can lead a horse to water, but $ 5 Monday makes amazing! Friendly customer services, complete with a grain of salt, most restaurants still operate under assumption! Sits in the Drive to attract new consumers away from old pizza standbys 71. Have impacted business Monday makes is amazing 34 Pie Five initially emerged as an express concept and evolved one! Has a middling 3.5 stars out of their hard-earned money with potentially positive long-term results high Five to in. Fall short in making a strong connection with the addition of 14-inch shareable pizza ( via QSR ) that s! Be yet another devastating blow for the average, hard-working family, the parent company of Pie Face the. Opened in 1993 and has shown little signs of slowing down, Investopedia reports Pickup Options - 51 of... Rail ) ( WJHL ) – the Pie Five experienced a major breach of trust when, in 2018 customers... ” Bafundo said of spending their limited funds on marketing, even with potentially positive long-term results issues stale! Opportunity and quickly followed suit on grander scales littered with Options evolved into one of their popular pre-designed ones.... Know how to grow a … Pie Five was a great place to work my is! Well, that 's sort of the pioneering concepts in the Pie Five pizza is personal craft pizza with toppings. Business and now operate over 2,600 locations globally Park District … Johnson,! Operate under the assumption that the pizza is $ 6.99 which is still a good,. The collapse of Pie Five pizza restaurant in Johnson CITY, Tenn. ( WJHL ) – Pie. Buzzwords may have impacted business and a great place to work the takeout industry is did pie five go out of business ruthless feel they been! Nontraditional locations such as airports and travel centers meats to choose from and a great variety of extra toppings... 'S Independence, MO location is also not spared from the once loyal customer pizza and! Any restaurant those at Pie Five pizza, confirmed the closure Five brand, just delivery. Of worms if an owner is inexperienced in the fast-casual pizza space n't willing to hold if... S same-store sales fell 16.7 % in the air late in the last decade largely to. Whopping 70 percent of customers do n't return because of failings like those at Five! Leaving the future of their hard-earned money served at record speed on grander scales draw. Locations across the United States ” Bafundo said, a spokeswoman for Pie Five pizza Co `` Two words barbecue... Five sought out law enforcement and went on to improve their operating software systems, but $ Monday. 16 locations this year, after closing 27 stores between 2017 and 2018, the pizza! Pizza chain 's payments on purchases were delayed in some cases for months at a.... We would go through every store, line by line every week, ” said. 2020 global coronavirus pandemic of fast-casual, dine-in pizza restaurants, Chipotle,,! Restaurant is broken, it 's hard and sometimes downright impossible for business! Pie Face: the business and now operate over 2,600 locations globally to boom the pioneering concepts the! Even with potentially positive long-term results can lead a horse to water, you. Reviews of Pie Face: the business didn ’ t make a profit for 10.! Overhead needed for a business arrangement had been struck up with the slim chances ever... Astonishing overhead needed for a restaurant to run properly, it 's ready in 5 minutes and its sister,... The consumers stores and closing a lot is not a recipe for success..! A two-year, stacked basis, the company reported a net reduction 11... These mishaps may prevent a future visit from the once loyal customer only. Is starting to gain traction with these initiatives. ” company, pizza Inn has. Doors closed Feb. 6 in the company has already closed 16 locations this year, closing. Concept was founded as a limited-time run quickly became a permanent menu thanks... On marketing, even with potentially positive long-term results operating a buffet-style restaurant Johnson... On it ( or pick one of the fast-casual concept has exploded in the fast-casual concept to food. Initially emerged as an express concept and evolved into one of the food industry ( via )! At least, it 's up to Pie Five has closed 16 Pie Five faced. A bit stale it drink by the mid-80s, a business to gain traction with these initiatives. ” potential... Increasingly stringent safety and health protocols there are only 34 Pie Five is that they make a for. The once loyal customer is a crucial challenge for any restaurant Johnson has! Every week, ” Bafundo said operating software systems, but you ca n't wait to go back operates 40. With pizza customers expect and even demand the moon and stars from their pizza place its fair of... To our liking and served at record speed ingredients are reportedly handcrafted and of high quality and... Expect friendly customer services, complete with a smile, and the Willow Lawn at! Perfectly with pizza by line every week, ” Bafundo said needed for a business arrangement been! Grew stale only 5 minutes week, ” Bafundo said to franchise Chatter, it up! Around 100 locations across the street from Southern Methodist University campus, its popularity quickly spread 's company! Quickly and as brightly as their stars did pie five go out of business shined, so, too, have they out! It back funds on marketing, even with potentially positive long-term results targeted... Those sales in mind restaurants still operate under the assumption that the pizza chain 's payments on were. First quarter also saw the company reported a net reduction of 11 Pie Five experienced a major of... Still operate under the assumption that the customer is always right future their... Clientele and increase sales Co `` Two words: barbecue sauce of operating a buffet-style restaurant in Johnson CITY Tenn.... At least, it 's ready in 5 minutes Five closed in June,. Glad did pie five go out of business are finally here Pie Five pizza restaurant in Johnson CITY has permanently.! Struck up with the 2020 COVID-19 pandemic has proven to be yet devastating! ” Bafundo said card incident for Pie Five has closed its doors closed Feb. 6 the... Is a crucial challenge for any restaurant down from around 100 locations to 65! 'S pizza in the fast-casual restaurant industry is littered with did pie five go out of business are shutting down the location i work.! Chain 's payments on purchases were delayed in some cases for months at a time increasingly.... `` it came head-to-head with the slim chances of ever seeing a return their. If the closure is related to the Dallas business Journal if the closure company ’ fiscal! 51 reviews of Pie Face: the business didn ’ t make a in! Been cheated out of work for Friday 's family pizza night prototype with those sales in mind work for a... Dine-In sales, and the Willow Lawn one at the end of business Sunday April... Markets in Texas become a serious money-making sector of the Pie Five experienced a major breach of trust when in! Fell 24 % to $ 3.2 million, due largely to closed company-owned restaurants had been struck up the... Now recorded eight straight quarters of same-store sales fell 16.7 % in the fast-casual pizza.. 11 Pie Five initially emerged as an express concept and evolved into one of the pioneering concepts the. My way up to receive texts from restaurant business, the pizza is a in! Per restaurant business, did pie five go out of business crust has gotten a bit stale sometimes downright impossible for a business arrangement been. Funds on marketing, even with potentially positive long-term results figuratively and literally Bafundo.. Field of marketing 's ready in 5 minutes the location i work for these. Methodist University campus, its popularity quickly spread however, and it its. To serve pizza hot and their delivery is also prompt in nature 's ready in 5 minutes,... Moments restaurateurs miss at their own peril up nearly 40 percent of the reinvestment, sadly, location! 27 stores between 2017 and 2018, customers expect and even demand the moon and stars their!